A popular Italian restaurant in Hartlepool town centre, Marco Polo, has come to market via Christie & Co as an investment. The business will be unaffected and continue to operate as usual.
The eatery holds a 4-star TripAdvisor rating and currently trades as an Italian restaurant, with a large open plan kitchen, decorated in a traditional Italian décor. Also included in the sale is a two-bed maisonette situated above the restaurant.
This is great opportunity for a buyer looking to purchase an ideally located investment property with a long-term lease agreement of 20 years. The new owner will benefit from a fixed rent increase included in the lease agreement, set to come into place in 2021, with further reviews on a 5-yearly basis.
Current owner Darab Rezai commented, “I have had a long-standing relationship with Christie & Co for a number of years, having bought and sold a number of businesses through them. They have a huge network of buyers and I am confident they are well placed to act for me in finding a buyer for this particular property.”
David Cash, Associate Director at Christie & Co is handling the sale, said, “We have seen strong appetite for investment properties in recent months and expect interest from a range of prospective purchasers.
'Any buyer should take comfort in the fact that the building has seen significant investment from both the landlord and tenant recently and is in very good condition throughout. The fact that the long-standing tenant has just signed a long-term lease should also give assurances that the business is performing well.”